Alphatec Holdings (ATEC) is a medical device company focused exclusively on spine surgery. ATEC designs and sells surgical implants, instruments, biologics, and enabling technologies used by spine surgeons to treat degenerative spinal conditions and deformity. ATEC's core strategy is "proceduralization" — rather than selling standalone implants, ATEC bundles positioning equipment, surgical access tools, implants, biologics, and intraoperative neuromonitoring into integrated, approach-specific surgical systems. The flagship example is the Prone TransPsoas (PTP) approach, a proprietary lateral spine surgery technique that integrates ATEC's SafeOp automated neuromonitoring system, patient positioners, retractors, and implants into a single workflow. Surgeons drive purchasing decisions, but ATEC invoices hospitals for implants and instruments used per procedure, generating recurring per-case revenue. Revenue grows through surgeon adoption, utilization increases as surgeons apply ATEC's procedures to more cases over time, and higher revenue per procedure as surgeons use more ATEC products per case. Surgical revenue represents roughly 90% of total revenue, with the remaining ~10% from EOS — a low-dose, full-body biplanar X-ray imaging platform used for deformity surgery planning. ATEC sells through a hybrid U.S. sales force of direct reps and independent agents, with a small international presence in Australia, New Zealand, and Japan. ATEC outsources manufacturing, keeping its cost structure variable and tied to surgical volume.